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Terms Used In Maryland Code, ECONOMIC DEVELOPMENT 12-116

  • including: means includes or including by way of illustration and not by way of limitation. See
  • state: means :

    (1) a state, possession, territory, or commonwealth of the United States; or

    (2) the District of Columbia. See
The principal of and interest on bonds, the transfer of bonds, and any income derived from the bonds, including profits made in their sale or transfer, are forever exempt from State and local taxes.
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